The delegation's initial stop was Shenzhen, Guangdong
Province, where they met with major Chinese firms and official bodies.
Gamal El-Din and his team met with Dennis Wong, CEO of
Crystal International Group Ltd., and K.C. Fong, Finance General Manager at
Crystal Elegance, a group subsidiary. Discussions focused on investment
opportunities within the SCZone, particularly in the Qantara West Industrial
Zone, a hub for Egypt's textile and ready-made garment industry.
The SCZone offered a 1.5 million square meter plot for a new
Crystal International Group factory in Qantara West. This project is expected
to bring $250-300 million in investments and create 3,000-3,500 jobs. The
company seeks to leverage the SCZone's integrated port and industrial zones,
along with its attractive tax and customs incentives. The SCZone's strategic
location, with access to both Mediterranean and Red Sea ports and numerous free
trade agreements, offers unparalleled global market access. Crystal
International, with over 45 years of experience and operations in five
countries including Vietnam, plans to export its entire production to meet
international client demand. The company employs approximately 80,000 workers
and produces around 470 million pieces annually.
The SCZone Chairman also toured the Qianhai special zone,
hosted by the Qianhai Authority at the Shenzhen Qianhai Exhibition Hall, to
observe development projects spanning industrial, logistics, and port
activities. This was followed by an investment conference, "The Strategic
Gateway for Industrial Growth and Global Investment," co-organized by
Shenzhen Qianhai International E-commerce Hub and the Qianhai Hong Kong Chamber
of Commerce. The event drew prominent investors and business leaders from
Shenzhen and Qianhai, alongside key government officials.
Gamal El-Din presented the SCZone's competitive advantages,
including tax and customs incentives, world-class infrastructure, and access to
skilled labor and competitively priced energy. He expressed a strong desire to
strengthen partnerships with Chinese companies, positioning the SCZone as a
solution for Chinese investors navigating current economic challenges in
various industrial and logistics sectors. Chinese government officials
underscored the deep Egyptian-Chinese relations and strategic partnerships,
calling for increased cooperation to foster economic development in both
nations. They highlighted the SCZone as an ideal investment destination and a
leading global logistics hub. A Chinese company already operating in Egypt also
shared its successful investment experience, attributing it to Egypt's ongoing
efforts to improve the investment climate.
The SCZone delegation also visited the Yantian International
Container Terminal, managed by global operator Hutchison. Hutchison also
operates the soon-to-open container terminal at Ain Sokhna Port within the
SCZone, a $250 million investment featuring a 1,200-meter quay and a 720,000
square meter yard.
The Yantian terminal boasts 9.3 kilometers of quays and
handles 15 million containers annually. Gamal El-Din met with Hutchison
officials, including Lawrence Shum, Managing Director of Yantian International
Container Terminal, to discuss future cooperation in port and logistics
sectors, aimed at bolstering global supply chain integration.
The first day in Shenzhen concluded with a visit to the
headquarters of BYD, a leading electric vehicle (EV) manufacturer. The
delegation learned about BYD's diverse products, including EVs, EV batteries,
energy storage batteries, and solar panels. A meeting between Gamal El-Din and
Jinfeng Shi, BYD's Deputy General Manager of the Corporate Department, explored
the possibility of BYD establishing a presence in the SCZone.
Gamal El-Din emphasized that a BYD investment in the SCZone would establish a massive industrial base for electric vehicles, EV batteries, and solar panels. He highlighted the SCZone's unparalleled strategic location as a gateway for BYD to access African and Middle Eastern markets, aligning with both parties' ambitions to localize the EV industry regionally, a crucial future industry given growing demand and the need to address climate change.